Qualified advisers answering your
Financial Questions
call 0800 092 1245

Gordon Brown says sorry, well almost!

While Gordon Brown has been under intense pressure to admit to his part in the ongoing economic downturn in UK he has so far refused to apologise. However, today he took one step closer towards a full apology by suggesting that he takes full responsibility for his failure to spot the potential for a banking crisis over a decade ago. So what exactly is Gordon Brown talking about?

Yet again the emphasis from the government seems to be on the regulatory environment and major errors over the last decade when the financial sector in particular was given a free rein in the shape of "self regulation". Gordon Brown has accepted his responsibility in this area, and the fact that nothing was done to tighten the regulatory burden on the UK financial sector, which could and should have avoided the situation we are in today.

However, yet again the Prime Minister has refused to suggest that the UK government has in any way played a major part in the demise of the UK economy due to a slack monetary policy which fuelled the property boom and the decision not to increase UK reserves when the economy was growing. As we have seen of late, consistent investment into UK public services ensured that there were no savings in the bank when the economy start to turn, which has led to a massive increase in national debt.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details